Campbell Soup (CPB) Announces $1.2B Buyback, Sees EPS At High End of Range
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Campbell Soup Company (NYSE: CPB) announced that its Board of Directors has authorized a new share repurchase program. Under the new program, Campbell is authorized to purchase up to $1.2 billion of its outstanding shares in open market and privately negotiated transactions. The program will be in place through the end of Campbell’s 2011 fiscal year.
Additionally, Campbell updated its fiscal 2008 full-year guidance. The company now expects adjusted net earnings per share growth for its fiscal year ending August 3, 2008 to be at the upper end of the 5 to 7 percent range from the fiscal 2007 adjusted base of $1.95.
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